Find the duration (in years) in which ₹1,200 will amount to ₹2,220 at a rate of 20% per annum simple interest.

Question

Question

This question was previously asked in

RRB NTPC Graduate Level CBT-I Official Paper (Held On: 06 Jun, 2025 Shift 2)

Answer 1

Given:

Principal (P) = ₹1,200

Amount (A) = ₹2,220

Rate (R) = 20% per annum

Formula used:

Simple Interest (SI) = A - P

SI = \(\frac{P \times R \times T}{100}\)

Where T = Time in years

Calculations:

Simple Interest (SI) = 2220 - 1200

⇒ SI = ₹1,020

Using the formula for Simple Interest:

1020 = \(\frac{1200 \times 20 \times T}{100}\)

⇒ 1020 = 12 × 20 × T

⇒ 1020 = 240 × T

⇒ T = \(\frac{1020}{240}\)

⇒ T = 4.25 years

∴ The duration is 4.25 years.

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